Customer loyalty, a term that is used to describe a buyer’s preference for doing business with a particular business establishment, nowadays has become more important than ever before, due to the economic crisis and the ease with which customers shift to more economic product offerings. It is already known that 80 percent of business comes from 20 percent of customers. This 80-20 rule is widely accepted amongst businesses of all shapes and sizes – generally, a small group of your customers are generating the bulk of your revenue (http://www.investopedia.com/terms/1/80-20-rule.asp). As a result, celebrating, acknowledging and rewarding especially these 20 percent help to ensure they continue to show loyalty to your business.
Toward this direction, there are different loyalty programs brands implement. Best-in class activities come from different sectors ranging from airline industry to FMCG products and each one of them offers a different perspective to loyalty acquisition.
As technology improves day by day however, new trends arise and new propositions are just around the corner. CEM and mobile marketing are the latest propositions that show us where the industry is heading. They give the opportunity to brands by exploiting their benefits to reach their customers real-time, engage with them and reward them the way they would like to be rewarded.